The Global Battery Grade Precursor Market was valued at USD 3.45 Billion in 2024 and is projected to reach USD 9.78 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period (2024–2032). This robust growth is primarily fueled by the rapid acceleration of electric vehicle adoption, escalating demand for high-performance energy storage systems, and significant advancements in lithium-ion battery chemistries requiring ultra-pure materials.

As the global economy pivots toward sustainable energy and electrified transportation, the foundational materials that enable this transition have become critically important. Battery grade precursors—specialized chemical compounds including lithium salts and high-purity transition metal sulfates—form the essential building blocks for cathode and anode materials. In this blog, we profile the Top 10 Companies in the Battery Grade Precursor Industry—a dynamic mix of chemical giants, specialized material suppliers, and innovative recyclers shaping the future of energy storage.

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🔟 1. BASF Catalysts

Headquarters: Ludwigshafen, Germany
Key Offering: NMC Precursors, LFP Precursors, Customized Cathode Active Material (CAM) Solutions

BASF Catalysts stands as a global leader in the battery materials sector, leveraging its deep expertise in chemical engineering and catalysis. The company operates a vertically integrated supply chain, producing high-purity precursors for nickel-manganese-cobalt (NMC) and lithium iron phosphate (LFP) cathode materials. Its strategic investments in European and North American production facilities position it as a key supplier to major automotive OEMs.

Innovation Initiatives:

• €500 million investment in a new CAM plant in Schwarzheide, Germany (2025 completion)

• Pioneering high-nickel NMC 811 and cobalt-free precursor technologies

• Commitment to carbon-neutral precursor production by 2030

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9️⃣ 2. Targray

Headquarters: Montreal, Canada
Key Offering: Battery Grade Lithium Salts, High-Purity Metal Sulfates, Anode Precursors

Targray has established itself as a major international supplier of advanced materials for the lithium-ion battery industry. The company’s global logistics network and technical expertise enable it to serve gigafactories across North America, Europe, and Asia. Targray’s recent joint ventures in South Korea highlight its strategy to secure stable supplies of nickel and lithium precursors for the booming EV market.

Innovation Initiatives:

• Strategic partnership with POSCO for a 40,000 MT/year precursor facility

• Development of proprietary purification processes for battery-grade salts

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8️⃣ 3. Tanaka Chemical Corporation

Headquarters: Fukui, Japan
Key Offering: Nickel Hydroxide Precursors, Cobalt Compounds, Customized NCA Formulations

Tanaka Chemical Corporation is a specialized manufacturer with decades of experience in high-purity inorganic chemicals for battery applications. The company is particularly strong in nickel-cobalt-aluminum (NCA) precursors used in high-energy-density batteries for premium electric vehicles. Its precision manufacturing capabilities ensure consistent particle size distribution and strict impurity control.

Innovation Initiatives:

• Advanced crystallization technology for uniform precursor morphology

• R&D focus on reducing cobalt content while maintaining performance

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7️⃣ 4. Merck KGaA

Headquarters: Darmstadt, Germany
Key Offering: Ultra-High Purity Lithium Salts, Electrolyte Precursors, Specialty Additives

Operating through its Life Science business, Merck KGaA supplies critical high-purity materials to the battery industry. The company’s acquisition of IOI Tech in 2023 significantly expanded its portfolio of electrolyte precursors and functional additives. Merck’s stringent quality standards make it a preferred supplier for manufacturers requiring precursors with impurity levels below 10ppm.

Innovation Initiatives:

• Expansion of battery materials division through strategic acquisitions

• Development of next-generation silicon anode precursors

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6️⃣ 5. Kelong New Energy

Headquarters: Chengdu, China
Key Offering: Lithium Carbonate, Lithium Hydroxide, Nickel Sulfate Precursors

Kelong New Energy has rapidly emerged as a significant player in China’s battery materials ecosystem. The company benefits from proximity to lithium resources in Sichuan province and has established itself as a reliable supplier of battery-grade lithium compounds. Its integrated production process from brine to battery-grade product provides cost advantages in the competitive Chinese market.

Innovation Initiatives:

• Vertical integration from lithium extraction to precursor production

• Expansion of hydroxide production capacity for high-nickel batteries

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5️⃣ 6. 6K Energy

Headquarters: North Andover, Massachusetts, USA
Key Offering: Sustainable NMC Precursors, Upcycled Battery Materials, Custom Alloys

6K Energy is disrupting the precursor market with its proprietary UniMelt® plasma technology, which enables sustainable production of battery materials from recycled sources. The company’s process significantly reduces energy consumption and production costs while delivering materials with superior performance characteristics. 6K’s approach addresses both supply chain sustainability and cost challenges facing the industry.

Innovation Initiatives:

• UniMelt® plasma technology reducing production costs by 30-50%

• Partnerships with battery recyclers to create circular supply chains

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4️⃣ 7. Mangrove Lithium Refining

Headquarters: Vancouver, Canada
Key Offering: Battery-Grade Lithium Hydroxide, Modular Refining Solutions

Mangrove Lithium is pioneering modular, scalable technologies for producing battery-grade lithium hydroxide from various feedstocks, including lithium-rich brines and recycled materials. The company’s electrochemical process offers higher efficiency and lower environmental impact compared to traditional methods, positioning it as an enabler of localized precursor production.

Innovation Initiatives:

• Modular refining units enabling distributed manufacturing

• Technology partnerships with lithium miners and recyclers

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3️⃣ 8. Electra Battery Materials

Headquarters: Toronto, Canada
Key Offering: Cobalt Sulfate Precursors, Battery Grade Nickel, Recycling Services

Electra Battery Materials is developing North America’s only cobalt sulfate refinery, addressing a critical gap in the continent’s battery supply chain. The company’s integrated approach includes battery recycling capabilities, creating a closed-loop system for critical battery metals. Its strategic location in Ontario’s mining district provides access to responsibly sourced raw materials.

Innovation Initiatives:

• Development of North America’s first cobalt sulfate refinery

• Integrated black mass recycling for precursor production

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2️⃣ 9. RecycLiCo

Headquarters: Vancouver, Canada
Key Offering: Recycled Lithium Compounds, Upcycled Precursors, Closed-Loop Solutions

RecycLiCo specializes in advanced recycling technologies that recover battery-grade materials from spent lithium-ion batteries. The company’s hydrometallurgical process achieves high recovery rates for lithium, nickel, cobalt, and manganese, which can be directly used as precursors for new battery production. This circular approach addresses both supply security and sustainability concerns.

Innovation Initiatives:

• Patented hydrometallurgical process with >95% metal recovery

• Partnerships with battery manufacturers for closed-loop systems

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1️⃣ 10. Altech Batteries Ltd

Headquarters: Perth, Australia
Key Offering: High-Purity Alumina Coatings, Silicon-Graphite Anode Precursors

Altech Batteries is innovating at the intersection of precursor materials and advanced battery components. The company’s focus on high-purity alumina coatings for separator materials and silicon-graphite composite anode precursors addresses key challenges in battery safety and energy density. Its projects in Germany and Australia position it to serve both European and Asian markets.

Innovation Initiatives:

• Development of alumina-coated separators using proprietary precursors

• Silicon-graphite anode technology for higher energy density

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🌍 Outlook: The Future of Battery Grade Precursors Is Sustainable and High-Performance

The battery grade precursor market is undergoing a fundamental transformation. While traditional production methods still dominate, the industry is rapidly adopting sustainable practices, advanced recycling technologies, and innovative material formulations to meet the demands of next-generation batteries.

📈 Key Trends Shaping the Market:

• Rapid capacity expansion for nickel-rich NMC precursors in Asia, Europe, and North America

• Regulatory push for localized production and supply chain resilience

• Accelerated adoption of recycling technologies for circular precursor production

• Automaker-precursor supplier alliances for secure, sustainable material supply

Get Full Report Here: Battery Grade Precursor Market – View in Detailed Research Report

The companies listed above are not only supplying critical materials for the energy transition—they’re pioneering the sustainable and high-performance future of global electrification.